Hopefully in the next few months Iraq inflation will be at a managable level. Maybe it will happened after the new new Iraq Dinar Banknotes.
May 26 2006
Bassem Antoine, Deputy Chairman of Iraq’s Businessmen Association, said that inflation in Iraq had reached 107 percent due to the fuel crisis and the deteriorating security situation.
The draconian inflation rate, according to Antoine, was calculates in accordance with the costs of the imported consumer products and the saved costs if produced locally.
“The huge rate has also been the direct result of investing in non-productive sectors,” Antoine noted.